Last Wednesday, the House Committee on Financial Services completed its two-day markup of 21 bills related to housing affordability and banking reforms.
- In Context: In last week’s edition, we featured a detailed summary of NH&RA supported bills. You can watch the markup recording and votes on housing legislation here.
The Committee passed H.R. 6644: Housing for the 21st Century Act (50-1) with Rep. Ralph Norman (R-SC) as the only opposing vote.
- Chairman Hill (R-AR), Ranking Member Waters (D-CA), Rep. Beatty (D-OH) and Rep. Davidson (R-OH) specifically spoke in support of lifting the PWI cap from 15 percent to 20 percent.
- The committee added Rep. Beatty’s amendment to expand the definition of “Community Land Trusts” in the HOME Reform Act, easing compliance for small properties and increasing flexibility for nonprofits that create and provide low-income housing.
- On BABA:
- Ranking Member Waters shared in her opening statement she “plans to closely review a provision that exempts the housing program from the Build America, Buy America Act.”
- Rep. Downing (R-MT) shared excitement that the legislation exempts BABA from the HOME program and hopes Congress and HUD will do more to provide BABA relief.
- What They’re Saying: Republicans released this statement and Democrats released this statement on the passage of the bill.
The Committee passed H.R. 1078: Respect State Housing Laws Act (29-22) with Rep. Gonzalez (D-TX) as the sole Democrat joining Republicans in support of the bill.
What’s Next: Both bills will be considered by the full House of Representatives when members return from recess in 2026.
